International News
Bullion battling to sustain at higher levels: AUGMONT BULLION REPORT
- Gold prices saw losses of almost 2%, dropping below $3300, as investors applauded US President Donald Trump’s decision to postpone imposing tariffs on goods from the European Union.
- Due to uncertainty surrounding US tax policy and tariffs, Durable Goods Orders declined for the first time since October. The tariff truce was credited with helping the US Consumer Confidence rebound from 85.7 to 98.0 in May.
- In April, China’s net imports of gold through Hong Kong more than quadrupled compared to March, reaching their highest level since March 2024.
- Money markets indicate that traders are factoring in easing by 50 basis points by the FED in the year 2025.
Technical Triggers
- Gold prices are expected to trade in the range of $3275(~Rs 95000) and $3375(~Rs 96400) in the near term. Either side breakout or breakdown will give 2-3% movement.
- Silver prices are expected to trade in the range of $32.5(~Rs 96000) and $34(~Rs 99000) in the near term.
Support and Resistance
| Commodity | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3275/oz | $3375/oz |
| Indian | ₹95,000/10 gm | ₹96,500/10 gm | |
| Silver | International | $32.5/oz | $34/oz |
| Indian | ₹96,000/kg | ₹99,000/kg |
In a landmark moment for the Indian jewellery industry’s expanding global footprint, Sky Gold & Diamonds Ltd. proudly inaugurated its state-of-the-art Sky Souk Office & Experience Centre at Experience Centre Experience Centre , Dubai Gold Souk Extension.
The inauguration was conducted by Tamjid Abdullah, Joint Managing Director, Jawhara Jewellery, and attended by eminent industry leaders including John Paul Alukkas, Managing Director, Joyalukkas Jewellery – International Operations; K.P. Abdul Salam, Vice Chairman, Malabar Group; and Rajesh Jain, Partner, Siroya Jewellers LLC.
Adding to the momentous occasion were Darshan Chauhan, Mahendra Chauhan, and Akash Talesara, President, Sky Gold & Diamonds Ltd., along with the entire Sky Gold & Diamonds team.
This milestone underscores the brand’s commitment to blending Indian craftsmanship with global luxury sensibilities, positioning Sky Souk as a hub for innovation, artistry, and strategic B2B collaboration within Dubai’s dynamic jewellery landscape.
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.